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Financial Services Regulation

This network is for financial professionals interested in staying up to date on financial services regulation happening anywhere in the world. CFOs, bankers, fund managers, treasurers welcome.

originally founded 01 Jul 2010

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Retired Member

Derivative transaction reporting guide published by ASIC

The Australian Securities and Invesments Commission (ASIC) has published Regulatory Guide 251 for reporting entities that are subject to the reporting obligations under the ASIC Derivative Transaction Rules (Reporting) 2013. These reporting obligations come into force from 1 October 2013 and are being implemented in three phases – detail is provi...

21 October 2013

Retired Member

Report published on final framework by BCBS and IOSCO

The Basel Committee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO) have published a report containing the final framework for margin requirements for non-centrally cleared derivatives. Under these globally agreed standards, all financial firms and systemically important non-financial entities tha...

18 October 2013

Retired Member

NY Fed speech on data reported to trade repositories

The President of the Federal Reserve Bank of New York made a speech on how over-the-counter derivatives reform fits into the broader financial reform agenda. He expressed concern that regulators were not going to achieve the full benefits from trade repositories (TRs). He urged regulators, market participants and TRs to continue to work together ...

17 October 2013

Retired Member

G20 leaders publish roadmap for financial regulatory reform

The leaders of the G20 countries have published a declaration in which they address financial regulation restating their commitment to sustaining the momentum of reform achieved over the past five years and identified priorities for the future. The G20 has also published a “roadmap” of the proposed initiatives from November 2013 to 2015, aimed to s...

17 October 2013

Retired Member

FSB detailed timelines for G20 global regulatory initiatives

The Financial Stability Board (FSB) delivered the following documents to the G20 leaders for the St. Petersburg summit: Letter from the FSB Chair, Mark Carney on the progress of financial reforms - this letter sets out the financial reforms since the crisis and outlines the key outstanding issues requiring the G20 leaders’ attention; Narrative pro...

15 October 2013

Retired Member

ECB prepares to supervise 130 banks directly

A member of the European Central Bank’s (ECB) Executive Board has made a speech which includes details of the ECB’s internal preparations for the single supervisory mechanism. Mr Asmussen said that the ECB’s internal preparations are concentrated on four main areas: the construction of a database with information on all euro area banks - with the ...

11 October 2013

Retired Member

Green light for single supervisor for banks from Sep 2014

The European Parliament gave approval for the new EU bank supervision system which will bring some 150 of the EU's largest banks under the European Central Bank's direct oversight from September 2014. The proposed system's transparency and accountability has been strengthened by the Parliament and MEPs have tasked the European Banking Authority t

11 October 2013

Retired Member

Report on risks and vulnerabilities published by ESAs

The Joint Committee of the European Supervisory Authorities (ESAs) has published its second bi-annual report on risks and vulnerabilities in the European Union's (EU) financial system. The report identifies the following key cross-sectoral risks to the stability of the European financial system: the weak macro-economic outlook; the protracted low-...

10 October 2013

Retired Member

Roadmap published on transparency of shadow banking

The European Commission has published a communication on shadow banking which sets out the Commission’s roadmap which aims to limit the emergence of risks (in particular systemic risks) in the unregulated or less regulated financial system. The Communication identifies five priority areas on which the Commission is establishing initiatives. The f...

10 October 2013

Retired Member

ESMA issues advice to the European Commission

The European Securities and Markets Authority (ESMA) has published its advice to the European Commission on the equivalence of the regulatory regimes for over-the-counter (OTC) derivatives clearing, central counterparties (CCPs), and trade repositories (TR) of non-EU countries with the European Markets Infrastructure Regulation (EMIR). ESMA's advi...

09 October 2013